Mobile terminal for P2P distribution of digital value tokens
Purpose and goal
Achieved business and regulatory goals. Acquired deep know-how on what the challenges are in our business, and what legal requirements and obstacles exist. Certain implementations of our intended service were hindered by significant legal risks, and therefore we have not yet launched P2P functionality. We have as a result of the project developed and launched our integration with the Lightning protocol for micropayments, where we were the first in the world to launch a live consumer service and where we today are a world-leading player.
Expected results and effects
Although the final product has not yet been launched, the work we have done on the Lightning protocol (microtransactions) has achieved world leading innovation and has made us a name globally. We have become world leaders in the implementation of cryptographic payments, awarded the Swedish Blocktech award, and have been invited to present at four conferences. The innovation has made us a name globally as a Swedish company and contributed greatly to our brand, towards customers, investors and potential future skilled employees. This would not have happened without the Vinnova support.
Planned approach and implementation
The Blockchain Industry is very fast-moving and rapidly changing, making long term planning difficult. During a chaotic time (for the industry as a whole) we have managed to build world renown innovative services and acquired the necessary business and regulatory knowledge and c network necessary for the next step towards something even bigger.